The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-09
The STATE Of TRADE.
R, g. DUN & CO.'S REVIEW OF
THE WEEKS BUSINESS.
Although a Broken Week the stu.
alton Is Encouraging Cotton
Prospects splendid.

w., III thch Voohiy ioH''" Va U"oot
say: The business OF a broken week
has been on the whole encouraging
The prospects with which the hall
year opens are generally tatisiaoiofy,
and yet financial uncertainties are not
entirely removed and there remain
great speculative operations which
disturb and threaten. Crop prospects
continue good, though reliable reports
Of injury from drought and bugs come
from Western Nebraska. Southern
reports are uniformly favorable as to
cotton. An increase Of 10 per cent. In |
the acreage Of hay Is reported, with |
probable increase Of yield In all sec.
tions, except In the Central West,
though the quality is not 30 satisf &C.
tory. Wheat has been in large de-
mand, the exports from Atlantic ports
having reached 1880, 600 bushels for
five weeks, but the supply carried over
10 about az was anticipated. Cali
iornia carries over about 8, 800 900, with
prices 80 per cent. above the parity
Of Liverpool-a situation which may
have signihcance-but holders talk Of
keeping their stock through the year.
At New York, the great decline which
followed the June corner, has invited
large export buying, and prices stifien
q little. The weekly output OF iron
July LIST was 10S,9S6 tons, gain OF
1922 tons In June, but many furnsc
are slll idle, because Of the unsettled
coal workers strike, and the output ie
about 5000 tons less than May let
The half years production, 3,l67,2l7
tons, Ia about 5000 more than that
OF last years fret half. Dealers Ia k
OF "a rise in prices for time, though
later In the year and Increasing pro.
duction may cause reaction" Toe
financial situation at New York is bel.
tor, because the treasury disburse-
ments have exceeded receipts by
nearly 100000 the past week,
but at some Western and
Southern points, esp, cially where
real eetate sales and building
have been active, tightness OF money
appears. Thus money q "close" At
Nashville, "active" al Cleveland, and
interest Ia s to 10 per cent. at 0mshs,
where building permits Tor i4,00O,0CO
have been Issued shis year. Western
cities have been paying back part Of
the heavy losne made here TO meet
emergencies after the wheat collapse,
but banks at Cincinnati feel that 10 ID
proper 10 maintain q strong position,
and prefer not 10 20 outside their regu'
lar customers. Here feeling prevails
that disturbance, resulting from great
speculstionf, may not be- over, and
that the unssitled deals In railroads
and the stock market nesd close
watching. After some recovery Stock
were weaker on Wednesday, and agair
ON Friday. The enormous invest
meDts In building throughout th,
country, In new railroads and manu-
factories, begin 10 be apprebended ,ant
~ TO treasury accumulatione this fall
Secretary Fairch,ld 10 said TO be- In
cressingly anxious 10 avoid bond pur
cbases. II possible.
Foreign trade does not look NOR
healthy; for two weeks exports iron
New York have fallen 10 per cent be
low last year, while imports averag
about 10 per cent larger than last year
The wheat movement helpe, and
little foreign demand for corn sn
larger exports Of refined sugar, bu
cotton Ia held too high for sxpor
though II has declined an eighth, an
pork products and oil are PRACTICAL
unchanged. Interior reports are yer
favorable for the SESSION, though mi,
summer prospects are no, always n
liable, and exchanges continue larg
hut rthsc pact rather than new trad
I The settlement OF important lab
= troubles gives satisfaction, but n nj
= In wages means larger cost Of produ
" ton. with possible decrease In d
y mAnd.
= While the situation IL not free fro
meuacipg uncertainties, operation
under the interstate law continue
lessen r. ,ru ON that account. Liug
70 ton under the act multiplies evel
week, how 5ver, and NUT for q tin
involve doub rs TO the value OF man
properliee
The business iAilnrts during the Ia
seven days number for the Unit,
r States i3l. FIR Cuada IS; n total
v 1854, Asaintt 1871 last week and l79 (
the correspondinR week of laHt wear,